Wii and Wii U likely wouldn't exist ... as Nintendo never would've relinquished their position as the defacto "core" gaming console.
That gen probably would've turned out something like this
N64 - 85-100 million
Playstation - 30-40 million
Saturn - same as before.
Most third party games like Metal Gear Solid, Silent Hill, Tomb Raider, Resident Evil, Street Fighter, etc. would've been multiplatform. N64 probably would've had better versions of some of those games too, as I do feel the N64 chip was better and the CD format would've addressed the low res texture and poor music problems.
I think Squaresoft would've just opted to play it safe and stick with Nintendo. Sony was an unknown and really wasn't even doing that hot in Japan early on ... even the Saturn was outselling it there.
It was only when a game like Final Fantasy VII was basically technically impossible on the N64 that their hand was forced.